Israel Discount Bank Refinances Mixed-Use Property In SoHo With $30M Loan
448 West Broadway, New York, NY 10012
$30,000,000
Building Size
—
Asset Type
Mixed-use
Closing
Jul 7, 2020
AI
Israel Discount Bank has provided a $30,000,000 refinance loan for a mixed-use property located at 448 Broadway (also known as 26 Mercer) and 419-425 Broadway in SoHo. The property features a combination of office and retail spaces.
Summary of Transaction Details:
- Property Type: Mixed-use (Office & Retail)
- Transaction Amount: $30,000,000
- Address: 448 Broadway (AKA 26 Mercer) & 419-425 Broadway
- Market: SoHo
Cary Pollack, Charles Grussgott, and Michael Helmreich from Meridian Capital Group represented the borrower as brokers in this deal.
Please note that no additional information is available regarding the property or the individuals involved in the transaction.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93